2nd Ppor purchase, 1st becomes investment

Discussion in 'The Buying & Selling Process' started by Tony Clark, 11th Sep, 2018.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Tony Clark

    Tony Clark Well-Known Member

    Joined:
    3rd Sep, 2017
    Posts:
    57
    Location:
    Gold Coast
    Hi guys and girls,

    Quick question. My wife and I bought our first property in June as our Ppor, which we got the first home concession on so we didn’t have to pay stamp duty. We are looking to turn this into an investment property after a year and buy either a second investment property, then rent in our preferred location, OR buy our second place and live in it.

    Is there any incentive to living in the next place in regards to further concessions or will we be required to pay full stamp duty etc with every property purchase here on in?

    Thanks for the help!
     
    Tony Clark, 11th Sep, 2018
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,991
    Location:
    Australia wide
    full duty
     
    Terry_w, 11th Sep, 2018
    #2
    Tony Clark likes this.
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,653
    Location:
    Gold Coast (Australia Wide)
    in qld you will get the Home owners version of the duty, vs the investor, which is a fair bit lower

    ta

    rolf
     
    Rolf Latham, 11th Sep, 2018
    #3
    Tony Clark likes this.
  4. Tony Clark

    Tony Clark Well-Known Member

    Joined:
    3rd Sep, 2017
    Posts:
    57
    Location:
    Gold Coast
    Great thanks Rolf.
     
    Tony Clark, 11th Sep, 2018
    #4
Financial Advice – Do you need help